Connect with us

Hi, what are you looking for?

Investing

FBI Identifies North Korean Lazarus Group as Culprit Behind $41 Million Stake Casino Hack

North Korean hackers at the have by the FBI been identified as responsible for stealing $41 million worth of crypto from the online crypto casino Stake.

The attack, which took place around September 4, drained funds over the blockchain networks Ethereum, BNB Chain (formerly Binance Smart Chain/BSC), Polygon and Bitcoin, the FBI said in a published on Wednesday this week.

The statement listed 33 wallet addresses believed to be involved in the attack, and officially attributed it to North Korea’s Lazarus Group (also known as APT38).

Unusual transactions on Monday

A crypto casino backed by the popular rapper Drake, .

The transactions were spotted by blockchain security firm PeckShield, which shared a link to the on-chain activity on X:

Other blockchain security firms followed up, with Beosin estimating the total loss to be around $41.35 million, encompassing $15.7 million on Ethereum, $7.8 million on Polygon, and another $17.8 million from Binance Smart Chain.

The activity sparked widespread concerns across the digital asset community at the time, with many calling it the latest rugpull in the market amid plunging prices.

Despite the major loss, later the same day, with Stake simply telling their followers on X that they “apologise for any inconvenience.”

Since posting the apology on Monday, Stake has not mentioned anything about the hacking incident in its social media channels.

Among most infamous crypto hackers

Lazarus Group is known as one of the biggest criminal entities active in crypto, and is believed to be behind major hacks, with at least part of the stolen money allegedly being and ballistic missile program.

Among the best-known is , which the .

This post appeared first on cryptonews.com

You May Also Like

Editor's Pick

Real gross domestic product rose at a revised 3.2 percent annualized rate in the third quarter versus a 0.6 percent rate of decline in...

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

After the final lecture of my Fall 2022 International Economic Policy course (an undergraduate offering meant to introduce non-economics majors to the economics of...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....



Disclaimer: impactofincome.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 impactofincome.com